New Delhi, July 24 -- Global brokerages turned more bullish on One 97 Communications, the brand that operates digital payments major Paytm after its June-quarter results, raising target prices and describing the company as executing well in a large and profitable market.

Paytm reported first-quarter FY27 revenue of Rs24.5 billion, up 28% year-on-year and 8% sequentially. Net profit rose to Rs2.2 billion, up about 79% from a year earlier. EBITDA came in at Rs2.0 billion, up 54% quarter-on-quarter, taking the EBITDA margin to 8.3% from 5.8% in the prior quarter. Gross merchandise value grew 31% year-on-year to Rs7.1 trillion, faster than the 27% and 23% growth of the previous two quarters. Financial services revenue rose 45% year-on-year. ...